Alphabet, Google’s parent company, saw a surge in its revenue status by 14% this year, led by a rebound in advertising revenue for both the pinnacle companies, Google, and YouTube.
In the third quarter of 2020, Google bounces back again in the market. Also, YouTube bought in $5 billion in advertising revenue.
They were sketching that the advertisers who pulled back their ad from promoting their advertisement this year due to the corona pandemic thought of heading back to new normal now.
How much did YouTube and Google get from advertisements?
YouTube has many subscribers, whether it be from YouTube TV or YouTube Premium. Right now, YouTube has more than 30 million music records and YouTube Premium subscribers as well – 35 million, including those from free trials.
In addition to all this, YouTube TV has more than 3 million subscribers. This is huge and gigantic, making it enough for YouTube to earn, and so YouTube announced the hike in monthly prize from $50 to $64.99 in June.
However, in the pandemic, videos like meditation to keep mental health fine and DIY mask-making show billions of views, which adds to the benefit of YouTube.
“We’re pleased with the degree to which advertisers reactivated their budgets in the third quarter,” said Ruth Porat, CFO of Alphabet and Google, on a call with investors.
She adds that the consumers are also showing strong enthusiasm in all the verticals. The advertisers rely much on YouTube than TV as the watch time growth of many users increases day by day.
YouTube also claims to invest in content moderation to maintain the balance and positive experience amongst users and creators. Google saw an increase in advertising revenue as there was a hike from $30 billion to $37.4 billion this year.
— The Verge (@verge) October 29, 2020
Google’s surge in revenue this year
With that, YouTube ads also saw a 30% growth from $3.8 billion as reported in the third quarter of 2019.
Google’s CEO Sundar Pichai says that now he can know how valuable Google’s finding product-search- has been to people.
This quarter gave a sharp contrast to the previous quarter of 2020, where the revenue saw the biggest downfall.
Like cloud services, play store, and hardware, Google’s other features brought revenue of $5.4 billion, which was more than the $ 4 billion of previous data.
Its “other bets” segment Waymo and Verily had $178 million, which was less than even of the last year’s data.
Google’s cloud division had a revenue of $3.44 billion, and its searching segment saw growth to $26.3 billion. Both of them saw a great surge in revenue from last year.
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